Loan for home repairs and renovation

Renovation loan is a convenient solution to receive the necessary funds to help you finance the renovation or remodeling of your existing property. If you plan to upgrade, repair, or enhance your home, Renovation loan is the right choice. For example, it can be used to improve your garden, buid terrace or garage. It can be also used as partial investment for realestate purchase or smaller property at countryside. Inbank Renovation loan offers flexible repayment terms and competitive interest rates to meet your financial needs.

The Renovation loan is available from 2 000 to 20 000 euros with a repayment term of 12 months to 84 months. Renovation loan is without down payment and without collateral. You can easily apply for a loan remotely. The answer to the application is given within a few minutes. Upon receiving confirmation of receiving the loan, you can sign the contract remotely using any method more convenient for you – using Smart ID or electronic signature.

Interest rates depend on the desired amount, term and your credit profile. To find out your interest rate, please fill out the application, it will only take a few minutes. The interest rate is fixed for the entire loan period and is not tied to the Euribor. You can therefore be certain that the monthly repayment will not change.

All Latvian citizens or residence permit holders who are at least 21 years old, having regular monthly income and a permanent job. You cannot have delayed payments or outstanding debt liabilities. You must have an open current account in one of the Latvian banks, a valid identity document issued in the Republic of Latvia, and a valid mobile phone number and e-mail address.

The loan amount you can borrow depends on several factors, such as your creditworthiness, current income and ability to repay the loan, and other existing credit obligations. We offer a range of loan amounts to accommodate various needs. During the application process, you can specify the amount you wish to borrow, and we'll do our best to tailor the loan to your requirements.

Our Renovation loan comes with flexible repayment terms. The repayment period can vary based on the loan amount and your preferences. We offer various repayment options, ranging from 12 months to several years. Our Customer Support can help you determine a suitable repayment schedule that aligns with your financial capabilities.

Applying for a Renovation loan with us is easy and convenient. You can start the application process online by specifying the desired amount and term in the calculator. We'll ask for some personal and financial information to assess your eligibility.

To receive a loan, you need to submit a bank account statement for the last 6 months. This can be easily done using secure-integrated form in the application, where you give your consent to the submission of the account statement. Or you can also add it as a attachment in pdf format including all incoming and outgoing payments during application process.

If you are a resident of Latvia employed abroad, you must submit an account statement for the last 12 months (if the salary was received in a foreign account) and/ or submit a statement from the tax administration regarding the payment of state taxes for the last taxation year.

When using Renovation loan keep the purchase documents, as Inbank may request those in order to ensure that the loan is used for its intended purpose.

If the contract is signed by 3 p.m., the money will be transfered to the account on the same day. This applies to customers who have an account with Swedbank and Citadele. Customers with an account in another bank will receive the money next day.

You will receive the payment schedule with your contract. We will send you friendly reminder before each payment. You can always check your loan balance by logging in your Inbank customer profile.

Full early repayment of loan is free of charge. Email shall be sent to info@inbank.lv, indicating your personal data, agreement number and the date, on which full loan repayment is planned.

If you have lost your job or will not be able to fulfil your liabilities due to any other reasons – immediately contact our Customer Support to agree on the most suitable solution. Each situation is assessed individually. For us to assess your situation, an email shall be sent to info@inbank.lv, indicating your personal data, agreement number and the reasons for not being able to make payments in a timely manner.

Yes, you can change the date of monthly payment. To apply for these changes, an email shall be sent to info@inbank.lv, indicating your personal data, agreement number and changes you wish to make. The amendments to the agreement are made according to the pricelist.